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John Textor has agreed to sell his stake in Crystal Palace to Woody Johnson, IsaGoal can report.
According to City AM, Textor will part ways with his 43 percent ownership of Crystal Palace in a deal worth around £175 million.
The sale will hand control to Woody Johnson, the NFL’s New York Jets owner and former US ambassador to the UK.
Crystal Palace’s total valuation now stands at approximately £400 million.
The deal was rushed to ensure Palace’s Europa League spot remains safe after UEFA raised concerns over Textor’s links to Lyon.
Textor is keen to reinvest quickly in another English football club to keep his Eagle Football group’s UK footprint active.
Sources suggest he is targeting a Championship side with room for growth, though a Premier League option is still possible.
“I’m interested in clubs that can grow quickly,” Textor reportedly said.
Textor’s Eagle Football also owns Brazilian champions Botafogo, who recently won the Copa Libertadores and shocked PSG with a 1-0 victory at the Club World Cup.
Meanwhile, his French side Lyon secured Europa League qualification last season despite looming financial threats.
Textor also holds majority control of Belgian side Daring Brussels, formerly RWD Molenbeek.
Woody Johnson, worth an estimated £7 billion, previously attempted to buy Chelsea after Roman Abramovich’s exit.
Johnson’s purchase must still pass Premier League approval before Crystal Palace can claim their Europa League ticket.
Textor had other offers but chose a quick sale to help Palace secure their European dreams.
Eagle Football is also moving forward with plans for a US IPO after officially filing with the SEC on June 13.
This article was updated 5 hours ago